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Hudson Valley Press

July 24th, 2013

First Niagara employees help Habitat rebuild Putnam home

On July 13th, First Niagara employees spent the day with Habitat for Humanity of Putnam County rebuilding a home for a local family.

PEEKSKILL – A team of First Niagara employees put their carpentry skills to the test as they spent a day with the Habitat for Humanity of Putnam County, NY rebuilding a home for a local family. In addition, First Niagara Foundation provided a $2,000 grant to help support the project.

"First Niagara feels honored to have had the opportunity to lend a hand to Habitat for Humanity, a great cause in our community," said First Niagara Brewster Branch Manager, Catherine Seale. "Helping people achieve the goal of homeownership is something we’re very good at - although it usually involves mortgages and not hammers!"

The First Niagara team, comprised of employees from the Brewster, Jefferson Valley and Baldwin Place branches performed a variety of tasks including installing insulation, housewrap, a rainscreen, trim and siding, and some minor framing work.

"We are thrilled to begin what we hope will be a long and productive partnership with First Niagara," said Lisa Denig, Board Member.

When finished, the home will be sold to a qualified partner family at cost, about $100,000, at 0% interest for 30 years. In addition, the partner family is required to put in 500 hours of "sweat equity," which means that they must work alongside volunteers building their future home. Partner families must be able to afford the utilities and taxes associated with owning the home and they are also required to attend financial counseling sessions to prepare them for their new investment.

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